Thomson & Anor v Kavanagh, Re Money Markets International Stockbrokers Ltd [2006] IEHC 349 (20 October 2006)

Applicants are not entitled to payment of the client account funds by analogy to the Hess case; their claim cannot be isolated from other claims on client funds and does not warrant elevation above other clients. The equitable principles cited do not apply to grant a superior equity.

Citation: [2006] IEHC 349
Parties: Applicant: William Thomson; Applicant: Irene Thomson; Respondent: Tom Kavanagh
Jurisdiction: Ireland
Judgment Date: 20 October 2006
Procedural Posture: Application in Liquidation Proceedings / Preliminary Issue Determination
Outcome: application refused
Legal Topics: Client Funds, Liquidation, Equitable Claims, Tracing, Distribution of Assets

Company Law Insolvency Client Funds Liquidation Equitable Claims Tracing Distribution of Assets

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Parties

William Thomson

Applicant

Irene Thomson

Applicant

Tom Kavanagh

Respondent

Procedural Posture

Application in Liquidation Proceedings / Preliminary Issue Determination

Legal Issues

1 Whether applicants are entitled to payment of client account funds by analogy to prior decision in Re Money Markets International Stockbrokers Limited (Hess case)
2 Whether applicants' equity is superior to other clients based on tracing principles

Ratio Decidendi

Court Disposition

application refused